Tuesday, 28 January 2014

June 2, 2012: Britain's Queen Elizabeth II and Prince Philip arrive for the Epsom Derby at Epsom race course, southern England at the start of four-day Diamond Jubilee celebrations to mark the 60th anniversary of the Queen's accession to the throne.

Queen Elizabeth II of Great Britain is apparently one royal who is no longer flush.

According to The Daily Telegraph, a report by the House of Commons' Public Accounts Committee has found that the Queen's financial reserves have reached a "historic low," dwindling to 1 million pounds ($1.66 million) from 35 million pounds ($58 million) in 2001.*

The Committee's report has placed the blame squarely on the Queen's advisers for overspending in a manner out of line with the austerity measures that have been adopted by Prime Minister David Cameron's government. According to the Telegraph, the royal household only managed 5 percent efficiency savings over the past five years, while some British government departments have cut their budgets by up to 33 percent. In the 2012-13 fiscal year, the report found that the royal household received 31 million pounds ($51.4 million) in taxpayer funds, but spent 33.3 million ($55.2 million), dipping into the reserves in the process.*

Margaret Hodge, a Labour MP who chaired the committee, told Sky News that the financial mismanagement has resulted in two of the Queen's most famous residences falling into disrepair, with no contingency plant to pay for the backlog of repairs.*

"Forty percent of [the royal estate] needs something doing to it," Hodge said. "The boilers at Buckingham Palace haven't been replaced for 60 years. Windsor Castle has problems with the bedrooms and the Royal Picture Gallery has buckets to catch the water coming through."

Hodge also called on the Treasury to "be actively involved in reviewing the Household's financial planning and management," which she claimed it has failed to do.*

A Buckingham Palace spokesman the Telegraph that repairing the royal palaces was "a significant financial priority" and claimed that the royal household had doubled its income since 2007.*

My Comments:(Passion Business VII - cryptocurrency) This article and the video is so interesting. It presented in no uncertain terms that the fiat currency is accelerating the erosion of value. The video said it in completeness: "This erosion by printing more fiat money every single year is making the value you held on to in terms of the currency you hold is reduced every single year. It guaranteed the currency printer will rob and eat you for free."

With this grim circumstance, the cryptocurrency I am proposing would be successful beyond my wildest dreams. Hopefully I don't get in the way of too many bureaucracies. My partner-in-crime is concerned with the ultimate security of the system. I am proposing the most difficult hash codes - SHA-3 2048 bits (four times more than the current 512 bits). In time, it will be able to automatically handle even more complex hash functions.As long as the system don't get hacked and multiple mirrors set-up, I am sure we would be resistant to physical and cyber security breeches. We would have time to perfect the system, as the bureaucracies need time to catch up. Finally, I have re-engaged my cyber business. I lost it about 20 years ago. Now it is all coming home. Thank You, partner-in-crime.

about me

In "1984", George Orwell paints his vision of life in an age where
totalitarianism has eradicated individuality, choice and personal
identity. In the context of a modern dystopia in the grip of political
megalomania, Orwell raises a number of concerns in connection with
modern society and the human race, while highlighting the importance of
preserving individual identity. While still a novel, 1984's core themes
are pertinent to our current world, as it draws several parallels
between the life of its protagonist, Winston, and that of the modern
man, and alludes to an important fact: identity can only exist when the
environment allows it.

1984 follows a man who has lost his identity, who does not possess
outward status of any kind and whose every move is scrutinised by those
in control. Throughout the novel, Winston seeks to be identified by
those of like mind. Eventually he meets a man named O'Brien and becomes
a criminal working against the party. Ultimately Winston is caught,
unable to overcome the regime; he is physically and psychologically
manipulated until finally he yields total obedience to his superiors.

Orwell draws a parallel between Winston and the human race as a
whole, implying that Winston is the "last man" left. The novel's
clearest message is that the human race ought not to destroy its own
identity. Orwell portrays authority as being obsessed with identifying
every aspect of its subjects, from their names to the records of their
every move. Yet it is apparent that this obsession with identification
and control leads to the destruction of every kind of meaningful
identity, since it transforms a society of unique individuals into one
of perfect homogeneity. The government's contempt for individuality is
furthered by the notion that people are classified as either sane or
insane; sanity is the equal capital crime punishable by decapitation.

With Dr Calhoun's perfect experiment on humans - the Holocaust II, it presents a perfect recipe for the extermination of the sinkies.